Longtime lurker, first time poster, wanting to get a bit of insight about prenups. I will volunteer that I'm fully open to a prenup in my situation and think it's a good idea, but I have never known anyone who has gotten a prenup. I also come from a religious/cultural background where divorce is taboo and rare. So I'm not sure exactly what to anticipate for in the case of divorce either as I've never know anyone who has divided up assets. As a result, I'd be grateful for any insight from this group in terms of what's typical in this type of situation. I want to make sure there isn't anything I'm overlooking.
The Facts:
• Me (F31) + Partner (M30)
• Partner is entering marriage with more assets and a property they own, but also significant debt from professional school. I have fewer assets but no debt. As a result, we are both entering the marriage on pretty similar ground in terms of total assets. I do want to make sure my partners property is protected as their own.
• Partner's income: High-300s, projected to climb close to half a million over the next few years. High-pressure career. It's possible they could be making a million dollars per year in a decade. If they don't (and take a step back), our income would probably be more similar, with them making 10-20% more than me per year. But, I'd say there is a 75% chance they make at least 2x as much as me for the length of their career.
• My current income: Low 100s, combination of W-2 job and solo consultancy. In terms of trajectory, I could expect to get into mid to high 100s in the next decade if I lean into career development and opportunities. I don't see me ever breaking the low 200ks.
• We are planning for children in the next couple of years. I currently serve the primary "homemaker" role, and if we were to have children this would also be the case with me being the primary caregiver. At this point, I plan to continue working but I'm realistic that those plans can change, especially with a partner in a high-pressure career and no family nearby.
• We are both planning for early retirement, but there's a good chance I would retire a few years earlier thanks to my benefits scheme.
My partner wants to be sure they protect their earnings somewhat in the event of a divorce, especially considering their earning potential and the time and debt that they invested to get to this point. We know that protecting future earnings in a prenup can be a bit sticky, but this is what he has proposed so far:
• 70/30 split of joint assets, which him receiving the higher of the split in recognition of greater earned income during the career
• Limited alimony (perhaps a year), with him contributing a certain amount of percentage of income to me during that time
• Obviously, child support is separate and would be determined by the state
• If I were to retire before my partner, they would like to keep 100% of the income they earn after I retire
Mostly, before we draft up with respective attorneys, I'm trying to get a gauge on how typical a prenup like the above is? Especially in the case of the higher earner / lower earner dynamic that we have. What is the typical way future earnings are divided up in situations such as this? Is there anything I should be considering that I'm not?
The Facts:
• Me (F31) + Partner (M30)
• Partner is entering marriage with more assets and a property they own, but also significant debt from professional school. I have fewer assets but no debt. As a result, we are both entering the marriage on pretty similar ground in terms of total assets. I do want to make sure my partners property is protected as their own.
• Partner's income: High-300s, projected to climb close to half a million over the next few years. High-pressure career. It's possible they could be making a million dollars per year in a decade. If they don't (and take a step back), our income would probably be more similar, with them making 10-20% more than me per year. But, I'd say there is a 75% chance they make at least 2x as much as me for the length of their career.
• My current income: Low 100s, combination of W-2 job and solo consultancy. In terms of trajectory, I could expect to get into mid to high 100s in the next decade if I lean into career development and opportunities. I don't see me ever breaking the low 200ks.
• We are planning for children in the next couple of years. I currently serve the primary "homemaker" role, and if we were to have children this would also be the case with me being the primary caregiver. At this point, I plan to continue working but I'm realistic that those plans can change, especially with a partner in a high-pressure career and no family nearby.
• We are both planning for early retirement, but there's a good chance I would retire a few years earlier thanks to my benefits scheme.
My partner wants to be sure they protect their earnings somewhat in the event of a divorce, especially considering their earning potential and the time and debt that they invested to get to this point. We know that protecting future earnings in a prenup can be a bit sticky, but this is what he has proposed so far:
• 70/30 split of joint assets, which him receiving the higher of the split in recognition of greater earned income during the career
• Limited alimony (perhaps a year), with him contributing a certain amount of percentage of income to me during that time
• Obviously, child support is separate and would be determined by the state
• If I were to retire before my partner, they would like to keep 100% of the income they earn after I retire
Mostly, before we draft up with respective attorneys, I'm trying to get a gauge on how typical a prenup like the above is? Especially in the case of the higher earner / lower earner dynamic that we have. What is the typical way future earnings are divided up in situations such as this? Is there anything I should be considering that I'm not?
Statistics: Posted by littlelouise — Mon Apr 01, 2024 12:45 pm — Replies 0 — Views 12
